Web3 Social Media: Definition and Popular Web3 Social Media

Posted by Micck Davis on October 28th, 2022

Introduction

One way that Web3 and Blockchain technologies are being used by more people is through decentralized apps (DApp).

Decentralized apps like Curve Finance, which allows users to earn interest on their assets, as well as the realm of interactive gaming and other industries, are beginning to disrupt traditional marketplaces.

This raised the question of whether it was possible to create a Web 3 social media app development that is entirely decentralized and runs on the Blockchain.

Top Web3 Social Media Are Prepared to Dominate

Web3 blockchain-based alternatives to social media behemoths like Facebook are starting to pose a threat.

Alternatives based on blockchain pose a threat to social media juggernauts like Facebook (META) and Twitter (TWTR).

According to recent Web3 rivals, users will control their content, deplatforming will come to an end, data privacy will increase, and users will receive cryptocurrency payment for each post or comment.

Five new social media sites that will compete with centralized ones are examined by Yahoo Finance UK.

Also Read : What Are Latest Trend In Web3 Wallet Development

1. Niche

Niche describes itself as a recently released, decentralized Web3 platform for creating ad-free social media apps. It consists of user-owned communities where anyone can possess and commercialize their own content, including NFTs.

The blockchain was started by Zaven Nahapetyan, a former senior engineering manager at Facebook. The other Niche co-founder is Christopher Gulczynski, who collaborated in the creation of the dating app Bumble (BMBL).

Users sign up for a "club membership" in the form of a token that cannot be traded on Niche, which sets it apart from other web2 social media platforms like Facebook and Instagram (NFT).

A co-founder named Nahapetyan said of Niche: "Niche reorganizes social networks into clubs based on people's interests that are owned by the people who subscribe to them. Because it doesn't sell data or run advertisements to generate revenue, Niche differs from practically every other social media site.

Due to the fact that Niche is based on the NEAR blockchain network, it does not own any of the content.

Some brand-new social media platforms that aim to rival the established ones compensate users in cryptocurrencies for each post or comment they make.

2. Reputation

Somnium Space (CUBE-USD) creator Artur Sychov has launched a brand-new social media platform called Authencity. A Web3 site that is.

"An on-chain social media platform that can't be stopped," describes Sychov's proposal.

Over a week has passed since the new Web3 platform went live. So far, about 3,000 messages have been posted.

These communications will always exist on the blockchain. This implies that they are uncontrollable, unchangeable, and unremovable.

Web3 blockchain-based alternatives to social media behemoths like Facebook are starting to pose a threat.

3. Observed

Free social media platform Peepeth utilizes the Ethereum blockchain (ETH-USD). Bevan Barton, a full-stack developer, founded it in November 2017.

Peepeth differs from centralized Twitter, which is rapidly gaining a terrible reputation for regulating and suppressing accounts. As a decentralized substitute, Peepeth has no control over either the firm's or the government's access to the data of its consumers.

Like it? Share it!


Micck Davis

About the Author

Micck Davis
Joined: August 26th, 2022
Articles Posted: 24

More by this author